Should I Buy Ethereum Now? | Ethereum ETH Price Prediction and Technical Analysis 2021

What's up everybody, welcome back to The Art Of Crypto, the birthplace of absolutely legendary gains. In this video, by popular demand, let us take a look at Ethereum. In this video, we are going to cover the exact ways that I would trade Ethereum, whether it's going to go up or down. And if it does go up, how are you going to trade it? If it does go down, what prices should you get Ethereum at so that you can double your money literally, as we have been doing In the private Discord group. Guys, we are pretty much killing the markets even during subpar market conditions. And if you guys haven't joined the group already, spots are limited. I will close this after about 50 or 100 people more. The link is in the description. We are absolutely destroying these markets right now, and you are not going to want to miss out. So Ethereum, let's kick things off on the daily chart because it's important that we understand what is happening on a macro level before we dive into a lower timeframe to check out, you know, Just what's going on in the micro. So right off the bat, on the daily chart, I can't say that anything is too special. But if there is one thing that I am liking the look of is if I just bring your attention to Market Cipher, you can see that at the moment, this wave right here, you can see that it appears that it is about to clip. And if it does clip, then we are going to get a green dot. Now, why is this important? So here's what we're gonna get, right? we're going to get a clear shift in momentum towards the upside. Now previously, when Ethereum came down to this level right here at about $1,800 and it formed this little anchor wave, I was not confident that this was the bottom yet. But if we do get this clip of this momentum wave, that would signal that momentum is shifting towards the upside, and we might see that Ethereum might break upwards out of this bear pennant at the moment. As usual, I always like to say that nothing is confirmed until it is confirmed, because we have 16 more hours to go until this daily close, right? This is on the daily chart. So until we get this confirmation of this green dot, I wouldn't do much yet. But later on in the video, I'm gonna let you know exactly where the best prices that you can get Ethereum at so that you can pretty much guarantee that you're gonna make money. Because in the private group, it is literally as easy as just following the exact limit orders that I give, and it's automatic money. Literally just place an order at the level that I set, and it's making money. Simple as that. So link in the description. I'm only accepting another 50 to 100 people. Get in before spots are filled up. So now that we understand what we are looking out for on the daily chart, let us go into a lower timeframe so that we can get a clearer picture of what's going on. So now that we are on the 4-hourly chart, let's kick things off by talking about this bear pennant at the moment. So usually any pennant, which is this kind of a triangular pattern— so this would be a bull pennant and this would be a bear pennant— the thing about pennants that you have to understand is that they are continuation patterns, which means that pennants don't just form out of nowhere, and usually they signal a continuation towards the move that, you know, they were already in. So in this case, I know this looks more like a descending triangle, but I'm trying to draw a pennant here. So on a bull pennant, usually it's called a bull pennant because usually it tends to break towards the upside. And a bear pennant is called a bear pennant because it tends to continue towards the downside. Now nothing is confirmed until it is confirmed though, but at the moment this is 100% a bear pennant because, you know, We're coming down and then now we're forming this pennant. So by right, we are supposed to break downwards. But this is the significance of us understanding what is going on on the daily chart, because now that we know that this momentum wave seems to be about to shift upwards, we can sort of, you know, expect Ethereum to break upwards out of this. So let's bring your attention to Market Cipher. And if you can take a look at Market Cipher, we have been in red money flow for the better part of this month. And at the moment, it does seem like not only is momentum shifting towards the upside, but we are getting a clear shift in money flow from the red into the green, which means that money could potentially be coming back into Ethereum and we might be seeing a move towards the upside. But here is the thing that I need you to understand. So at the moment As of the time that I am making this video, we are on the 31st of May, which means that we are about to get an all-important monthly close. So in 16 hours, we are going to get a monthly close, and this monthly close is going to be really, really important for Ethereum because look at where we are on the monthly right now. We are high, like really, really overbought. So if we just take a market cipher right here, this is in fact an anchor wave. Right? An anchor wave is simply a wave that is like really thick, either to the upside or to the downside. So at the moment, it seems to me that we have formed a top on the monthly chart. So does this mean that Ethereum is, you know, dead? I wouldn't say so. So here's the thing about anchor waves that you have to understand, and that is anchor waves usually signify a top but not the top, right? For all we know, we might form a red dot here For all we know, right, tomorrow we might start forming a red dot and it's going to come down for maybe a month. But I'm not saying this is going to happen, right? Because we, for all we know, we could form a red dot here and we could still, we could still pump. Absolutely, we can still pump. So for now, the reason that I would ask you to, you know, stay on the sidelines for a bit is because Monday closes tomorrow. You do not want to do things like you have already waited for so long. What is an extra, you know, 16 hours gonna do? It's better that you, you know, wait for a monthly close, wait for confidence to flow back into the markets before you take trades on Ethereum. Because for all we know, somebody might just, you know, dump the price of Ethereum before the monthly close so that it'll make it seem bearish. Or, you know, you don't know what's going to happen. So just sit on the sidelines, wait for the daily close and the monthly close, and then we go in. So let's discuss the possibilities of Ethereum here. Like, where do I think it's going to go? But before I forget, I want you to follow me on Twitter if you have not already, at _TheArtOfCrypto. This is where I'm sharing the latest market updates, and you are not going to want to miss out on them. So the first task at hand for Ethereum is to break above this level right here at $2,545. So not only is this a previous support and resistance, right? This is a major, major level right here. Not only is this a major level, but it is also at the level of a major moving average, right? If you just take a look at this white line here, this is what you call a 50-period exponential moving average on the 4-hourly. And I always like to say that a 50 EMA is a strong dynamic support and resistance for a healthy trend, which means until the price breaks above the 50 EMA, I will still expect more downside in Ethereum. Which means that if we do come back up to this 2545 level, expect a rejection off of Ethereum. And if we do get that rejection, and if we continue to break below this low right here at about, what, 2200? If we do manage to break below this low, expect downside from Ethereum, right? At least we are going back to 1700. Because here's the thing. If we do break below this support line right here, then that would mean that this bear pennant has played out towards the downside. And if we just measure the move of this bear pennant towards the downside, we can see that it will bring us up to about $1,300-ish, right? Which actually lines up with a previous level of support back here. But I do not want to get overly bearish yet, so let's look at the data. We have now discussed that if we do break above the 50 EMA, then we are going to look pretty bullish. But if we break below this support level right here, then expect a lot of downside for Ethereum. Now, I'm not saying that it's going to go, you know, all the way back down to $1,300 because at the moment we are in a bull market and the impulse is towards the upside. However, no matter how bullish you think Ethereum might be, I still want you to keep in mind the possibility All right, I always say that trading is a game of possibilities. There's no absolutes in trading, and the way that you win in trading is simply by taking the higher probability move over a lower probability move over a sustained period of time. That is how you win in trading. Whilst I do not believe that there is a high chance that this is going to happen, you just want to keep that in mind that there is always a possibility. Especially granted that, you know, money flow and momentum is shifting towards the upside. So if we do break above this 50 EMA, I would try to look for this 200 EMA right here, which is this purple line right here. Now if you don't know what an EMA is, you can just head over to your indicators, search for an EMA, and enable that, okay? And set the input to 200. So if we do break above the 50, then I would look to take profit at this 200 EMA right here because it lines up with the upper trend line as well. Which is brilliant. You always want to look for this kind of confluence when you are dealing with take profit and support zones. And then the rest of the take profit targets are listed as above. Granted, we of course we can move even higher, but in case market conditions are not beautiful, you want to mark down these levels and try to take some profit off of these levels. Now that we have discussed the upside targets and the upside possibility for Ethereum, let us take a look at where should we buy Ethereum should it break towards the downside, because that's what all of us want, right? Cheap Ethereum. All right, now that we have discussed the upside possibility and the take profit target should Ethereum be able to break towards the upside, let us discuss the downside possibility and take a look at where are the best prices to get yourself some Ethereum, especially if you do not already have Ethereum exposure. So in order to do that, we have to bring up this VPVR indicator, which is a visible range, right? It shows you where, at which levels, are they going to be the most support. And at the moment, it lines up this 1300 level. And at the moment, it would seem that the 1300 level lines up with the previous measured move target of this bear pennant right here. which would bring us right to about $1,300. And you can see that there is a load, like a load of support at $1,300 right there. And if we do break even lower than $1,300, then $1,200 appears to be the next zone of key support, right? Simply because there's a lot of volume there to, you know, cushion your fall. But am I saying that Ethereum is gonna get that low? No, absolutely not. I'm just giving you like contingency plans. If we really do get to this kind of a level, I want you to load up on Ethereum, like really load up. Okay, because not only does this level have volume support, you are also getting confluence from, you know, previous resistance and previous support. So this level right here at $1,300 is going to be really, really key for Ethereum to hold. Now granted, I am not that bearish on Ethereum, so to be honest, the level that I would look for Ethereum to hold is in fact the $1,900 level right here, because not only does it line up with a 200-period moving average on the daily chart, which is— if you have followed this channel for a long time, you always hear me say that the 200-day EMA is going to be an extremely strong dynamic support and resistance. So I do not expect Ethereum to break below the 200 EMA. So 100%, I would stock up here. I would even stock up at $2,200. So these 3 levels is where I would look to get Ethereum Should we break towards the downside, and you could even argue that 1,500 would be good as well because it is previous support. But honestly, there is not much volume supporting this area. So if possible, I would try to get it at 1,370. But if the prices do not fall that low, which I am expecting it not to fall that low, then 1,660 is definitely a very good level. So how do you use these levels to your advantage? So in trading, nobody knows where exactly is the bottom, right? In our case, we know that $1,300 to $1,250 is going to be the bottom for Ethereum should we fall down there. But generally speaking, nobody really knows where is the bottom. So what you do is you dollar cost average, right? So the definition of dollar cost averaging is that say you have $1,000 to play with, I wouldn't enter all $1,000 at $2,200. So I would split them up, right? Maybe 25% at— maybe 15 to 25% at $2,200, and then 25% here, 25% here, and 25% here. That way, should Ethereum really, really fall all the way down to $1,355, then your position is going to go lower and lower The lower Ethereum goes, which means that by the time it recovers, you are going to be in mad— like, imagine if Ethereum falls down here and your position is about like, what, $1,650, and it recovers to a previous all-time high. That's free money right there. It's 173% gain right there. So 100%, load up on these levels. And if Ethereum breaks towards the upside, these are the levels that I'm gonna look to take profits at. Like, don't tell me that Ethereum is gonna go to $10,000, so you're just gonna hold Ethereum until then. Well, good luck, my friend, because things don't go like— things don't 5x or 4x in a matter of like one month, all right? At least not Ethereum, because its market cap is already huge. So you never go broke taking profits. And if you like this kind of a video where I'm giving you exact entries and ways of how I would trade things, I want you to check out the link in the description and join the private Discord group, because over here I literally give you the best entries, right? All you have to do is take my limit orders and boom, free money. You are literally going to make back the monthly fee in just a couple of trades, so it's a no-brainer. So I'll see you in the Discord group, yeah? And just remember this, nothing is confirmed until it is confirmed. I would 100% look for a break above this level right here, which I marked, right guys? And seriously, I'm giving you all these levels for free, like absolutely free. All I ask for you is do your own due diligence and mark down these levels on your own chart, because if you don't even have the diligence to do that, then there is nothing that I can do to help you. Until we get a break above this level or this level right here, anything that happens— all right, let's go, let's zoom in a bit. Until we get a break above or below either one of these levels at $25.40, and $2,200, everything that happens in between is noise, okay? It's just noise, right? There's no need for you to be taking any trades in between these 2 levels. And in trading, it is important that you understand when to fight and when not to fight, because there is a saying that I always like to say: he will win who knows when to fight and when not to fight. Since Ethereum is between these 2 levels right now, it's just noise, right? Unless you're a scalper You have no business trying to take trades here. And if you want to learn exactly how to identify areas where it's just noise or key levels of support and resistance and all that kind of stuff, or even just how to use Market Cipher, that's what the private group is for. We have a world-class trading education in there, and if you are interested, spots are limited, so secure your spot now. And with that said, may the gains be with you, and peace.